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Jan 18, 2013
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but we had to adjust to the environment we're in right now. that's what we're dealing with. >> where would you say the net flow is now between morgan stanley brokers and merrill brokers right now? who's winning? are you -- you added more? have they -- and are you -- are you in an aggressive mode right now in terms of offering them increased compensation to come to morgan stanley, or -- >> i'm going to give you an answer which may be a little counterintuitive. the person who's winning might be the one who's actually losing on net flow. in other words, there are some very aggressive recruiting packages out there. anybody can go out and spend money -- >> in the past -- >> spend money and buy talent. do you want us just buying talent? >> i don't know. where are you now in terms of totals? >> we're over 16,500. i forget exactly. i think merrill -- you know, honestly, i don't even know. >> ubs is a big player. >> well, ubs is very different. they're a global private bank doesn't have brokers, has private bankers. the domestic business which is the o
but we had to adjust to the environment we're in right now. that's what we're dealing with. >> where would you say the net flow is now between morgan stanley brokers and merrill brokers right now? who's winning? are you -- you added more? have they -- and are you -- are you in an aggressive mode right now in terms of offering them increased compensation to come to morgan stanley, or -- >> i'm going to give you an answer which may be a little counterintuitive. the person who's...
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Jan 15, 2013
01/13
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this is a very good credit environment. but that is a huge amount of financing for an lbo. in fact we haven't seen something like that since the financial crisis, and you're not buying into a great road story here. you're not buying into energy. you're buying into dell. basically the banks would be asked to do a bet on the personal computer market. >> dan, the second piece of this, as i think about it, though, is this idea that you're actually going back to the club deal, right? you're having two firms club up, and now with something that was, almost, i thought it was now a relic of the 2007, '06, '05 and people were no longer going to do that, at best, they were going to partner potentially with their own limited partners like the pension funds but not necessarily together to fund themselves. >> yeah, and it's particularly interesting that tpg is involved in this. one of the biggest private equity firms in the world but they might have some troubles fund-raising next time out. their performance hasn't been good the last two funds. one of the things they've been telling the
this is a very good credit environment. but that is a huge amount of financing for an lbo. in fact we haven't seen something like that since the financial crisis, and you're not buying into a great road story here. you're not buying into energy. you're buying into dell. basically the banks would be asked to do a bet on the personal computer market. >> dan, the second piece of this, as i think about it, though, is this idea that you're actually going back to the club deal, right? you're...
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Jan 14, 2013
01/13
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in this regulatory environment that's not a good place to be. james foreman's move into retail and other sector so i think that's a meaningful shift for them. >> is the regulatory environment too tight? >> in some number of areas, yes. in some others, no. so i can actually say mixed answer. in a lot of dodd-frank has to do with things that had nothing to do with the financial crisis. you may remember one of the first laws actually implemented where they wrote the language was debit fees. they capped debit fees. that had nothing to do with anything around the financial crisis. on the other hand things like the volcker rule and others, they're still working on them, and i think there should be some good regulation around capital risk taking, and such, on the trading desks. that's still to come. >> the other big banking wall street news this week is jamie diamond and jpmorgan, i don't know if you follow this, but the london whale, the board, is going to be potentially releasing an internal report on what happened. if you were on the board would you
in this regulatory environment that's not a good place to be. james foreman's move into retail and other sector so i think that's a meaningful shift for them. >> is the regulatory environment too tight? >> in some number of areas, yes. in some others, no. so i can actually say mixed answer. in a lot of dodd-frank has to do with things that had nothing to do with the financial crisis. you may remember one of the first laws actually implemented where they wrote the language was debit...
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Jan 17, 2013
01/13
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it is a tough environment for luxury as people trade down and start looking for bargains. joining us is susan lyne, chairman of gilt.com. she's also the former president and ceo of martha stewart living. also on set with us this morning our guest host, mellody hobson. susan thank you for joining us this morning. >> thank you. >> i checked out gilt.com and i have to say, these are great brands at great prices. >> it is. >> how do you offer some of the bargains you're offering? >> you know, we've got long relationships now, we're about five years old, with many of the top brands, and they realize this is a great way for them to sell excess inventory and everyone has excess inventory because these are event-based sales. they're quick. and consumers love them. >> i've seen you run out of stock quickly on these things. buy it now or it's gone type of situation. >> yep. >> is it a difficult environment for luxury right now? is that a fair estimation? >> our sector has had a fantastic holiday. we were up over 30% on gilt.com. >> but you're talking about bargain prices, where peop
it is a tough environment for luxury as people trade down and start looking for bargains. joining us is susan lyne, chairman of gilt.com. she's also the former president and ceo of martha stewart living. also on set with us this morning our guest host, mellody hobson. susan thank you for joining us this morning. >> thank you. >> i checked out gilt.com and i have to say, these are great brands at great prices. >> it is. >> how do you offer some of the bargains you're...
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Jan 16, 2013
01/13
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. >> one what are the things you think you can do in this environment? by the way, i talked to bankers who say, you know what, i don't know if anyone's going to trust us. first of all i'm not sure anyone did historically trusted banks. >> agreed. >> and that it may never get that much better until, frankly, the economy gets better and the unemployment picture gets better. >> i would sake exception with never. i think there have been times in the past when the banker was your friend. you knew you could go down and get a loan if you needed to buy a house. you didn't worry about whether you could qualify. you worried about, you know, what house you wanted to buy. those are the types we need to get back. to frankly, banking's only one part of the financial services industry. this is a very broad, very wide industry. markets are driven based on people's confidence in their future, their willingness to invest in something they think has a better future than the current times. so earning that confidence. you know, financial advisers in our industry, professiona
. >> one what are the things you think you can do in this environment? by the way, i talked to bankers who say, you know what, i don't know if anyone's going to trust us. first of all i'm not sure anyone did historically trusted banks. >> agreed. >> and that it may never get that much better until, frankly, the economy gets better and the unemployment picture gets better. >> i would sake exception with never. i think there have been times in the past when the banker was...